News OnTheWight had a tour around Building 41 this morning (Tuesday), ahead of the council’s new business hub being officially opened later this week.
Following the £1.6m renovation and refurb, Building 41, which is based in Northwood next to BAE Systems, has been given a new lease of life thanks to cash from the European Regional Development Fund.
Flexible and sustainable working
The Building 41 facility will offer a range of flexible office suites, large co-working areas and at least two event spaces.
As well as meeting spaces, quiet pods, a board room and more, the facility also offers free parking, a covered cycle rack, a bus stop right outside the premises and includes two 7kW electric vehicle charging points.
Last EU-funded IWC project on the Island
News OnTheWight was taken on a tour by Cllr Julie Jones-Evans – the Cabinet member for Levelling Up, Regeneration, Business Development and Tourism – and Ella from the Innovation Wight team.
Three years to the day since Great Britain left the European Union, Cllr Jones-Evans explained this was the last EU-funded project on the Island to come to fruition.
The funding was allocated in 2021 and a soft launch of Building 41 took place in October last year, allowing the team to ensure everything worked as it should do in the building and determining demand for the variety of spaces on offer.
Helping to incubate small businesses
The main goal of Building 41 is to help incubate small businesses, giving them an opportunity to work alongside other businesses, making connections and partnerships along the way and allowing collaborations to develop and thrive.
The facility will be opened by the Isle of Wight council leader, Lora Peacey-Wilcox, on Thursday when members of the public are invited to pop along and take a look at what’s on offer (between 11am and 1pm).
Co-working spaces
The co-working space is incredibly keenly priced at £100 for up to ten days per month of hot-desking, rising to £150 for a full month of hot-desking.
You can have up to three members of the same business hot-desking all month for just £250.
Busy or quieter sections
The co-working spaces are split across both sides of the building. On one side the co-working space incorporates the reception and kitchen/cafe area, a meeting table as well as desk space, sofas and chair.
The co-working space on the other side of the building is intended to be much quieter, the sort of environment you’d be able to sit down and focus in.
This side of the building also includes the quiet pods, soundproofed for taking calls, attending webinars, or having client meetings.
Upstairs you’ll find the office suites in a range of sizes to suit your needs or budget.
You can find out more about these by visiting the dedicated Website.
Five-minute recap
We had a quick chat with Cllr Jones-Evans at the end for a recap. Click to play button to listen.
Building 41 can be found nestled between BAE Systems and Ascensos, Newport Road, Cowes, PO31 8BX.
